Lazard Asset Management LLC purchased a new position in shares of Ooma, Inc. (NYSE:OOMA – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 97,265 shares of the technology company’s stock, valued at approximately $1,415,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Amundi purchased a new stake in Ooma in the 1st quarter worth approximately $387,000. AQR Capital Management LLC purchased a new position in shares of Ooma during the 1st quarter worth $478,000. Millennium Management LLC boosted its holdings in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock worth $4,144,000 after purchasing an additional 142,220 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Ooma by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock valued at $3,254,000 after purchasing an additional 11,300 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Ooma by 162.6% in the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock valued at $448,000 after purchasing an additional 21,192 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on OOMA. Citigroup reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Alliance Global Partners restated a “buy” rating on shares of Ooma in a report on Wednesday, May 27th. Lake Street Capital upped their price objective on shares of Ooma from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a report on Monday, May 18th. Finally, UBS Group set a $24.00 target price on shares of Ooma in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.
Insider Buying and Selling
In other news, CEO Eric B. Stang sold 23,212 shares of Ooma stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.00, for a total transaction of $464,240.00. Following the sale, the chief executive officer owned 795,506 shares in the company, valued at $15,910,120. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jenny C. Yeh sold 1,757 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $22.00, for a total transaction of $38,654.00. Following the transaction, the senior vice president directly owned 258,615 shares in the company, valued at approximately $5,689,530. The trade was a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 118,652 shares of company stock valued at $2,225,186 over the last three months. Company insiders own 9.90% of the company’s stock.
Ooma Stock Up 0.5%
Shares of NYSE OOMA opened at $21.59 on Wednesday. The stock has a fifty day moving average price of $19.08 and a 200 day moving average price of $16.03. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. Ooma, Inc. has a 12-month low of $9.79 and a 12-month high of $22.72. The company has a market cap of $593.84 million, a P/E ratio of 67.48 and a beta of 1.19.
Ooma (NYSE:OOMA – Get Free Report) last issued its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Ooma had a return on equity of 20.21% and a net margin of 3.17%.The company had revenue of $81.15 million during the quarter, compared to the consensus estimate of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. Research analysts anticipate that Ooma, Inc. will post 0.8 EPS for the current fiscal year.
Ooma Profile
Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.
For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.
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